First Quarter Financial Highlights:
- Total revenues decreased
$12.5 million year over year to$410.5 million . On an organic basis*, revenues decreased$8.6 million year over year, or 2.1% - Material Handling revenues decreased
$7.4 million year over year to$150.5 million , while Construction Equipment and Master Distribution revenues decreased a combined$1.8 million year over year to$261.4 million . On an organic basis*, Material Handling and Construction Equipment segment revenues were down$4.7 million and$0.3 million year over year, respectively - Material Handling and Construction Equipment segments new and used equipment sales gross profit margins both remained stable year over year at 19.6% and 11.7%, respectively, and improved notably on a sequential basis
- Service gross profit percentage increased 10 basis points year over year to 60.2%
- Interest expense decreased
$2.4 million year over year to$19.5 million in the quarter - Rental equipment sales increased 44.5% year over year to
$30.2 million in the quarter - Rental fleet, gross book value decreased
$59.5 million year over year to$524.6 million - Net cash provided by operating activities of
$20.8 million - Net loss available to common stockholders of
$(20.3) million - Basic and diluted net loss per share of
$(0.62) - Adjusted basic and diluted pre-tax net loss per share* of
$(0.55) - Adjusted EBITDA* decreased
$5.5 million year over year to$28.1 million
CEO Comment:
In conclusion,
Full Year 2026 Financial Guidance and Other Financial Notes:
- The Company updates our guidance range and now expects to report Adjusted EBITDA* between
$167.5 million and$182.5 million for the 2026 fiscal year, primarily attributable to first quarter performance.
| CONDENSED CONSOLIDATED RESULTS OF OPERATIONS (Unaudited) (amounts in millions unless otherwise noted) | |||||||||||||||
| Three Months Ended | Increase (Decrease) | ||||||||||||||
| 2026 | 2025 | 2026 versus 2025 | |||||||||||||
| Revenues: | |||||||||||||||
| New and used equipment sales | $ | 206.9 | $ | 221.7 | $ | (14.8 | ) | (6.7 | )% | ||||||
| Parts sales | 71.2 | 72.0 | (0.8 | ) | (1.1 | )% | |||||||||
| Service revenues | 63.6 | 66.1 | (2.5 | ) | (3.8 | )% | |||||||||
| Rental revenues | 38.6 | 42.3 | (3.7 | ) | (8.7 | )% | |||||||||
| Rental equipment sales | 30.2 | 20.9 | 9.3 | 44.5 | % | ||||||||||
| Total revenues | 410.5 | 423.0 | (12.5 | ) | (3.0 | )% | |||||||||
| Cost of revenues: | |||||||||||||||
| New and used equipment sales | 175.7 | 188.1 | (12.4 | ) | (6.6 | )% | |||||||||
| Parts sales | 47.6 | 47.6 | — | — | |||||||||||
| Service revenues | 25.3 | 26.4 | (1.1 | ) | (4.2 | )% | |||||||||
| Rental revenues | 4.0 | 5.0 | (1.0 | ) | (20.0 | )% | |||||||||
| Rental depreciation | 23.5 | 24.9 | (1.4 | ) | (5.6 | )% | |||||||||
| Rental equipment sales | 25.1 | 16.0 | 9.1 | 56.9 | % | ||||||||||
| Total cost of revenues | 301.2 | 308.0 | (6.8 | ) | (2.2 | )% | |||||||||
| Gross profit | 109.3 | 115.0 | (5.7 | ) | (5.0 | )% | |||||||||
| Selling, general and administrative expenses | 108.2 | 106.7 | 1.5 | 1.4 | % | ||||||||||
| Non-rental depreciation and amortization | 6.8 | 7.5 | (0.7 | ) | (9.3 | )% | |||||||||
| Total operating expenses | 115.0 | 114.2 | 0.8 | 0.7 | % | ||||||||||
| (Loss) income from operations | (5.7 | ) | 0.8 | (6.5 | ) | (812.5 | )% | ||||||||
| Other (expense) income: | |||||||||||||||
| Interest expense, floor plan payable – new equipment | (2.0 | ) | (3.2 | ) | 1.2 | (37.5 | )% | ||||||||
| Interest expense – other | (17.5 | ) | (18.7 | ) | 1.2 | (6.4 | )% | ||||||||
| Other income | 1.7 | 0.9 | 0.8 | 88.9 | % | ||||||||||
| Gain on divestiture | 0.2 | — | 0.2 | NM | |||||||||||
| Total other expense, net | (17.6 | ) | (21.0 | ) | 3.4 | (16.2 | )% | ||||||||
| Loss before taxes | (23.3 | ) | (20.2 | ) | (3.1 | ) | NM | ||||||||
| Income tax (benefit) expense | (3.8 | ) | 0.7 | (4.5 | ) | NM | |||||||||
| Net loss | (19.5 | ) | (20.9 | ) | 1.4 | NM | |||||||||
| Preferred stock dividends | (0.8 | ) | (0.8 | ) | — | — | |||||||||
| Net loss available to common stockholders | $ | (20.3 | ) | $ | (21.7 | ) | $ | 1.4 | NM | ||||||
| Adjusted EBITDA(1) | $ | 28.1 | $ | 33.6 | $ | (5.5 | ) | (16.4 | )% | ||||||
| NM - calculated change not meaningful | |||||||||||||||
(1) Adjusted EBITDA is a non-GAAP measure. Refer below to “Use of Non-GAAP Financial Measures” for a definition of Adjusted EBITDA and "Reconciliation of Non-GAAP Financial Measures" for a reconciliation of our Adjusted EBITDA to net loss, the most comparable
Conference Call Information:
Alta management will host a conference call and webcast today at
Conference Call Details:
| What: | Alta Equipment Group First Quarter 2026 Earnings Call and Webcast |
| Date: | |
| Time: | |
| Live call: | (833) 461-5787 |
| International: | (585) 542-9983 https://help.events.q4inc.com/eahc/international-dial-in-numbers |
| Live call access code: | 641486242 |
| Webcast: | https://events.q4inc.com/attendee/641486242 |
The webcast replay will be archived through
About
Alta owns and operates one of the largest integrated equipment dealership platforms in
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Alta’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Alta’s control and are difficult to predict. Some factors that may cause such differences include, but are not limited to: supply chain disruptions and inflationary pressures resulting from supply chain disruptions; labor market dynamics that impact the price and availability of labor; economic, industry, business and political conditions including their effects on governmental policy and government actions that disrupt our supply chain or sales channels, including taxes and tariffs which impact us, our key suppliers or customers; adverse banking and governmental regulations, resulting in a potential reduction to the fair value of our assets; the performance and financial viability of key suppliers, contractors, customers, and financing sources; our key OEM's relative approaches to competitive pricing dynamics in the marketplace and how their approaches impact the competitiveness of the equipment we sell and our market share; the impact of artificial intelligence, cyber or other security threats, or other disruptions to our businesses; fluctuations in interest rate levels and the relative tenor of those levels; an increase in the cost of diesel and unleaded gasoline where we are unable to hedge or pass through the increase to customers; the demand and market price for our equipment and product support; negative impacts related to customer payments; collective bargaining agreements and our relationship with our union-represented employees; a material increase in the volume of high-cost healthcare claims below our stop-loss insurance limit; our success in identifying acquisition targets and integrating acquisitions; our success in expanding into and doing business in additional markets; our ability to raise capital at favorable terms; the competitive environment for our products and services; our ability to continue to innovate and develop new business lines; our ability to attract and retain key personnel, including, but not limited to, skilled technicians; our ability to maintain our listing on the
*Use of Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in
We define Adjusted EBITDA as net income (loss) before interest expense (not including floor plan interest paid on new equipment), income taxes, depreciation and amortization, adjusted for certain one-time, non-recurring or non-cash items, and items not necessarily indicative of our underlying operating performance. We exclude these items from net income (loss) in arriving at Adjusted EBITDA because these amounts are either non-cash, non-recurring or can vary substantially within the industry depending upon accounting methods and book values of assets, capital structures, and the method by which the assets were acquired. We define organic revenue growth as revenue growth excluding the impact of acquisitions or divestitures that do not appear fully in both periods in the current and prior years. We believe organic revenue growth is a meaningful metric to investors as it provides a more consistent comparison of our revenues across reported periods as well as to industry peers. Management uses Adjusted total net debt and floor plan payables to reflect the Company's estimated financial obligations less cash and floor plan payables on new equipment ("FPNP"). The FPNP is used to finance the Company's new inventory, with its principal balance changing daily as equipment is purchased and sold and the sale proceeds are used to repay the notes. Consequently, in managing the business, management views the FPNP as interest bearing accounts payable, representing the cost of acquiring the equipment that is then repaid when the equipment is sold, as the Company's floor plan credit agreements require repayment when such pieces of equipment are sold. The Company believes excluding the FPNP from the Company's total debt for this purpose provides management with supplemental information regarding the Company's capital structure and leverage profile and assists investors in performing analysis that is consistent with financial models developed by Company management and research analysts. Adjusted total net debt and floor plan payables should be considered in addition to, and not as a substitute for, the Company's debt obligations, as reported in the Company's Consolidated Balance Sheets in accordance with GAAP. Adjusted pre-tax net income (loss) is defined as net income (loss) adjusted to reflect certain one-time, non-cash or non-recurring items, and other items not necessarily indicative of our underlying operating performance. Adjusted basic and diluted pre-tax net income (loss) per share is defined as adjusted pre-tax net income (loss) divided by the weighted average number of basic and diluted shares, respectively, outstanding during the period. Certain items excluded from Adjusted EBITDA, organic revenues, Adjusted total net debt and floor plan payables, Adjusted pre-tax net income (loss), and Adjusted basic and diluted pre-tax net income (loss) per share are significant components in understanding and assessing a company’s financial performance. For example, items such as a company’s cost of capital and tax structure, certain one-time, non-cash or non-recurring items as well as the historic costs of depreciable assets, are not reflected in Adjusted EBITDA or Adjusted pre-tax net income (loss). Our presentation of Adjusted EBITDA, Organic revenues, Adjusted total net debt and floor plan payables, Adjusted pre-tax net income (loss), and Adjusted pre-tax basic and diluted net income (loss) per share should not be construed as an indication that results will be unaffected by the items excluded from these metrics. Our computation of Adjusted EBITDA, Organic revenues, Adjusted total net debt and floor plan payables, Adjusted pre-tax net income (loss), and Adjusted basic and diluted pre-tax net income (loss) per share may not be identical to other similarly titled measures of other companies. For a reconciliation of non-GAAP measures to their most comparable measures under GAAP, please see the table entitled “Reconciliation of Non-GAAP Financial Measures” at the end of this press release.
Contact
| Investors: | |
| kevin@scr-ir.com | |
| (225) 772-0254 |
| CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in millions, except share and per share amounts) | ||||||||
2026 | 2025 | |||||||
| ASSETS | ||||||||
| Cash | $ | 23.9 | $ | 18.6 | ||||
| Accounts receivable, net of allowances of | 192.0 | 186.7 | ||||||
| Inventories, net | 476.2 | 473.3 | ||||||
| Prepaid expenses and other current assets | 31.7 | 31.6 | ||||||
| Total current assets | 723.8 | 710.2 | ||||||
| NON-CURRENT ASSETS | ||||||||
| Property and equipment, net | 69.0 | 73.3 | ||||||
| Rental fleet, net | 305.0 | 313.7 | ||||||
| Operating lease right-of-use assets, net | 105.7 | 108.3 | ||||||
| 77.4 | 77.8 | |||||||
| Other intangible assets, net | 46.4 | 48.0 | ||||||
| Other assets | 7.3 | 5.0 | ||||||
| TOTAL ASSETS | $ | 1,334.6 | $ | 1,336.3 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Floor plan payable – new equipment | $ | 246.7 | $ | 241.0 | ||||
| Floor plan payable – used and rental equipment | 86.8 | 72.3 | ||||||
| Current portion of long-term debt | 11.1 | 11.0 | ||||||
| Accounts payable | 84.7 | 77.7 | ||||||
| Customer deposits | 12.0 | 15.0 | ||||||
| Accrued expenses | 55.5 | 45.3 | ||||||
| Current operating lease liabilities | 15.0 | 15.0 | ||||||
| Current deferred revenue | 12.7 | 13.7 | ||||||
| Other current liabilities | 3.3 | 4.0 | ||||||
| Total current liabilities | 527.8 | 495.0 | ||||||
| NON-CURRENT LIABILITIES | ||||||||
| Line of credit, net | 204.8 | 211.3 | ||||||
| Long-term debt, net of current portion | 485.3 | 484.5 | ||||||
| Finance lease obligations, net of current portion | 26.2 | 28.2 | ||||||
| Deferred revenue, net of current portion | 5.0 | 5.0 | ||||||
| Long-term operating lease liabilities, net of current portion | 97.7 | 100.1 | ||||||
| Deferred tax liabilities | 11.3 | 14.6 | ||||||
| Other liabilities | 4.8 | 6.4 | ||||||
| TOTAL LIABILITIES | 1,362.9 | 1,345.1 | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | — | — | ||||||
| Additional paid-in capital | 249.8 | 248.4 | ||||||
| (19.2 | ) | (19.2 | ) | |||||
| Accumulated deficit | (256.7 | ) | (236.4 | ) | ||||
| Accumulated other comprehensive loss | (2.2 | ) | (1.6 | ) | ||||
| TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) | (28.3 | ) | (8.8 | ) | ||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,334.6 | $ | 1,336.3 | ||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in millions, except share and per share amounts) | |||||||
| Three Months Ended | |||||||
| 2026 | 2025 | ||||||
| Revenues: | |||||||
| New and used equipment sales | $ | 206.9 | $ | 221.7 | |||
| Parts sales | 71.2 | 72.0 | |||||
| Service revenues | 63.6 | 66.1 | |||||
| Rental revenues | 38.6 | 42.3 | |||||
| Rental equipment sales | 30.2 | 20.9 | |||||
| Total revenues | 410.5 | 423.0 | |||||
| Cost of revenues: | |||||||
| New and used equipment sales | 175.7 | 188.1 | |||||
| Parts sales | 47.6 | 47.6 | |||||
| Service revenues | 25.3 | 26.4 | |||||
| Rental revenues | 4.0 | 5.0 | |||||
| Rental depreciation | 23.5 | 24.9 | |||||
| Rental equipment sales | 25.1 | 16.0 | |||||
| Total cost of revenues | 301.2 | 308.0 | |||||
| Gross profit | 109.3 | 115.0 | |||||
| Selling, general and administrative expenses | 108.2 | 106.7 | |||||
| Non-rental depreciation and amortization | 6.8 | 7.5 | |||||
| Total operating expenses | 115.0 | 114.2 | |||||
| (Loss) income from operations | (5.7 | ) | 0.8 | ||||
| Other (expense) income: | |||||||
| Interest expense, floor plan payable – new equipment | (2.0 | ) | (3.2 | ) | |||
| Interest expense – other | (17.5 | ) | (18.7 | ) | |||
| Other income | 1.7 | 0.9 | |||||
| Gain on divestiture | 0.2 | — | |||||
| Total other expense, net | (17.6 | ) | (21.0 | ) | |||
| Loss before taxes | (23.3 | ) | (20.2 | ) | |||
| Income tax (benefit) expense | (3.8 | ) | 0.7 | ||||
| Net loss | (19.5 | ) | (20.9 | ) | |||
| Preferred stock dividends | (0.8 | ) | (0.8 | ) | |||
| Net loss available to common stockholders | $ | (20.3 | ) | $ | (21.7 | ) | |
| Basic loss per share | $ | (0.62 | ) | $ | (0.65 | ) | |
| Diluted loss per share | $ | (0.62 | ) | $ | (0.65 | ) | |
| Basic weighted average common shares outstanding | 32,617,531 | 33,167,370 | |||||
| Diluted weighted average common shares outstanding | 32,617,531 | 33,167,370 | |||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in millions) | |||||||
| Three Months Ended | |||||||
| 2026 | 2025 | ||||||
| OPERATING ACTIVITIES | |||||||
| Net loss | $ | (19.5 | ) | $ | (20.9 | ) | |
| Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities | |||||||
| Depreciation and amortization | 30.3 | 32.4 | |||||
| Amortization of debt discount and debt issuance costs | 0.9 | 1.0 | |||||
| Gain on sale of property and rental equipment | (4.5 | ) | (5.0 | ) | |||
| Provision for inventory reserves | 0.8 | 1.3 | |||||
| Provision for losses on accounts receivable | 0.8 | 1.6 | |||||
| Gain on divestiture | (0.2 | ) | — | ||||
| Stock-based compensation expense | 1.0 | 1.1 | |||||
| Changes in deferred income taxes | (3.2 | ) | (2.1 | ) | |||
| Other operating activities | (2.1 | ) | (0.1 | ) | |||
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||||||
| Accounts receivable | (6.5 | ) | (9.1 | ) | |||
| Inventories | (38.8 | ) | (41.6 | ) | |||
| Proceeds from sale of rental equipment - rent-to-sell | 26.8 | 18.6 | |||||
| Prepaid expenses and other assets | (0.2 | ) | (3.1 | ) | |||
| Manufacturers floor plans payable | 21.5 | (6.0 | ) | ||||
| Accounts payable, accrued expenses, leases, and other operating liabilities | 13.7 | 14.4 | |||||
| Net cash provided by (used in) operating activities | 20.8 | (17.5 | ) | ||||
| INVESTING ACTIVITIES | |||||||
| Expenditures for rental equipment | (6.3 | ) | (12.0 | ) | |||
| Expenditures for property and equipment and intangibles | (3.0 | ) | (1.7 | ) | |||
| Proceeds from sale of property and equipment | 1.6 | 0.2 | |||||
| Proceeds from sale of rental equipment - rent-to-rent | 3.4 | 2.3 | |||||
| Acquisition of business, net of cash acquired | — | (2.9 | ) | ||||
| Proceeds from divestiture, net | 1.5 | — | |||||
| Other investing activities | (0.7 | ) | (0.2 | ) | |||
| Net cash used in investing activities | (3.5 | ) | (14.3 | ) | |||
| FINANCING ACTIVITIES | |||||||
| Proceeds from long-term borrowings | 40.5 | 96.1 | |||||
| Principal payments on long-term debt and finance lease obligations | (49.6 | ) | (61.6 | ) | |||
| Proceeds from non-manufacturer floor plan payable | 25.5 | 22.5 | |||||
| Payments on non-manufacturer floor plan payable | (26.6 | ) | (24.0 | ) | |||
| Preferred stock dividends paid | (0.8 | ) | (0.8 | ) | |||
| Common stock dividends declared and paid | — | (1.9 | ) | ||||
| Other financing activities | (0.9 | ) | (0.8 | ) | |||
| Net cash (used in) provided by financing activities | (11.9 | ) | 29.5 | ||||
| Effect of exchange rate changes on cash | (0.1 | ) | — | ||||
| NET CHANGE IN CASH | 5.3 | (2.3 | ) | ||||
| Cash, Beginning of year | 18.6 | 13.4 | |||||
| Cash, End of period | $ | 23.9 | $ | 11.1 | |||
| Supplemental schedule of noncash investing and financing activities: | |||||||
| Noncash asset purchases: | |||||||
| Net transfer of assets from inventory to rental fleet | $ | 30.0 | $ | 28.4 | |||
| Supplemental disclosures of cash flow information | |||||||
| Cash paid for interest | $ | 7.7 | $ | 9.9 | |||
| RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in millions, except share and per share amounts) | |||||||
| Debt and Floor Plan Payables Analysis | 2026 | 2025 | |||||
| Senior secured second lien notes | $ | 500.0 | $ | 500.0 | |||
| Line of credit | 207.0 | 213.6 | |||||
| Floor plan payable – new equipment | 246.7 | 241.0 | |||||
| Floor plan payable – used and rental equipment | 86.8 | 72.3 | |||||
| Finance lease obligations | 37.3 | 39.2 | |||||
| Total debt | $ | 1,077.8 | $ | 1,066.1 | |||
| Adjustments: | |||||||
| Floor plan payable – new equipment | (246.7 | ) | (241.0 | ) | |||
| Cash | (23.9 | ) | (18.6 | ) | |||
| Adjusted total net debt and floor plan payables(1) | $ | 807.2 | $ | 806.5 | |||
| Three Months Ended | |||||||
| 2026 | 2025 | ||||||
| Net loss available to common stockholders | $ | (20.3 | ) | $ | (21.7 | ) | |
| Depreciation and amortization | 30.3 | 32.4 | |||||
| Interest expense | 19.5 | 21.9 | |||||
| Income tax (benefit) expense | (3.8 | ) | 0.7 | ||||
| EBITDA(1) | $ | 25.7 | $ | 33.3 | |||
| Transaction and consulting costs(2) | (0.1 | ) | 0.1 | ||||
| Gain on divestiture(3) | (0.2 | ) | — | ||||
| Share-based incentives(4) | 1.0 | 1.1 | |||||
| Other expenses(5) | 2.9 | 1.5 | |||||
| Preferred stock dividend(6) | 0.8 | 0.8 | |||||
| Showroom-ready equipment interest expense(7) | (2.0 | ) | (3.2 | ) | |||
| Adjusted EBITDA(1) | $ | 28.1 | $ | 33.6 | |||
| Three Months Ended | ||||||||
| 2026 | 2025 | |||||||
| Net loss available to common stockholders | $ | (20.3 | ) | $ | (21.7 | ) | ||
| Transaction and consulting costs(2) | (0.1 | ) | 0.1 | |||||
| Gain on divestitures(3) | (0.2 | ) | — | |||||
| Share-based incentives(4) | 1.0 | 1.1 | ||||||
| Other expenses(5) | 2.9 | 1.5 | ||||||
| Intangible amortization(8) | 2.6 | 2.5 | ||||||
| Income tax (benefit) expense(9) | (3.8 | ) | 0.7 | |||||
| Adjusted pre-tax net loss available to common stockholders(1) | $ | (17.9 | ) | $ | (15.8 | ) | ||
| Basic net loss per share | $ | (0.62 | ) | $ | (0.65 | ) | ||
| Diluted net loss per share | $ | (0.62 | ) | $ | (0.65 | ) | ||
| Adjusted basic pre-tax net loss per share(1) | $ | (0.55 | ) | $ | (0.48 | ) | ||
| Adjusted diluted pre-tax net loss per share(1) | $ | (0.55 | ) | $ | (0.48 | ) | ||
| Basic weighted average common shares outstanding | 32,617,531 | 33,167,370 | ||||||
| Diluted weighted average common shares outstanding | 32,617,531 | 33,167,370 | ||||||
(1) Non-GAAP measure
(2) Non-recurring expenses related to corporate development, acquisition, and divestiture activities, and associated legal and consulting costs
(3) One-time gain associated with the divestiture of one location of our battery shop business in
(4) Non-cash equity-based compensation expense
(5) Other non-recurring expenses inclusive of severance payments, cost redundancies, extraordinary demurrage fees, and suspended operations
(6) Expenses related to preferred stock dividend payments
(7) Interest expense associated with showroom-ready new equipment interest included in total interest expense above
(8) Incremental expense associated with the amortization of other intangible assets relating to acquisition accounting
(9) (Benefit) expense related to the income tax provision, including valuation allowance
Consolidated Organic Revenues
| Organic Revenues | |||||||||||||||
| Three Months Ended | Increase (Decrease) | ||||||||||||||
| 2026 | 2025 | 2026 versus 2025 | |||||||||||||
| Total revenues | $ | 410.5 | $ | 423.0 | $ | (12.5 | ) | (3.0 | )% | ||||||
| Acquisition and divestitures revenues | 0.9 | 4.8 | |||||||||||||
| Organic revenues: | |||||||||||||||
| New and used equipment sales | 206.5 | 218.3 | (11.8 | ) | (5.4 | )% | |||||||||
| Parts sales | 71.1 | 72.0 | (0.9 | ) | (1.3 | )% | |||||||||
| Service revenues | 63.4 | 66.0 | (2.6 | ) | (3.9 | )% | |||||||||
| Rental revenues | 38.4 | 41.0 | (2.6 | ) | (6.3 | )% | |||||||||
| Rental equipment sales | 30.2 | 20.9 | 9.3 | 44.5 | % | ||||||||||
| Total organic revenues | $ | 409.6 | $ | 418.2 | $ | (8.6 | ) | (2.1 | )% | ||||||
Material Handling Organic Revenues
| Organic Revenues | |||||||||||||||
| Three Months Ended | Increase (Decrease) | ||||||||||||||
| 2026 | 2025 | 2026 versus 2025 | |||||||||||||
| Total revenues | $ | 150.5 | $ | 157.9 | $ | (7.4 | ) | (4.7 | )% | ||||||
| Acquisition and divestitures revenues | 0.9 | 3.6 | |||||||||||||
| Organic revenues: | |||||||||||||||
| New and used equipment sales | 72.4 | 75.0 | (2.6 | ) | (3.5 | )% | |||||||||
| Parts sales | 23.2 | 24.3 | (1.1 | ) | (4.5 | )% | |||||||||
| Service revenues | 33.8 | 34.0 | (0.2 | ) | (0.6 | )% | |||||||||
| Rental revenues | 16.3 | 17.5 | (1.2 | ) | (6.9 | )% | |||||||||
| Rental equipment sales | 3.9 | 3.5 | 0.4 | 11.4 | % | ||||||||||
| Total organic revenues | $ | 149.6 | $ | 154.3 | $ | (4.7 | ) | (3.0 | )% | ||||||
Construction Equipment Organic Revenues
| Organic Revenues | |||||||||||||||
| Three Months Ended | Increase (Decrease) | ||||||||||||||
| 2026 | 2025 | 2026 versus 2025 | |||||||||||||
| Total revenues | $ | 244.3 | $ | 245.8 | $ | (1.5 | ) | (0.6 | )% | ||||||
| Divestiture revenues | — | 1.2 | |||||||||||||
| Organic revenues: | |||||||||||||||
| New and used equipment sales | 121.2 | 126.7 | (5.5 | ) | (4.3 | )% | |||||||||
| Parts sales | 45.4 | 45.3 | 0.1 | 0.2 | % | ||||||||||
| Service revenues | 29.4 | 31.8 | (2.4 | ) | (7.5 | )% | |||||||||
| Rental revenues | 22.0 | 23.4 | (1.4 | ) | (6.0 | )% | |||||||||
| Rental equipment sales | 26.3 | 17.4 | 8.9 | 51.1 | % | ||||||||||
| Total organic revenues | $ | 244.3 | $ | 244.6 | $ | (0.3 | ) | (0.1 | )% | ||||||
